| Video |
Description |
| a. Comparative Statics of Solution Functions (Calculus) (13:50) |
| (0:00) |
comparative statics of solution functions |
| (2:17) |
differentiating the first order condition |
| (4:23) |
application: profit maximization (in terms of Q) |
| (6:51) |
comparative statics with several control variables |
| (9:36) |
application: profit maximization (in terms of L and K) |
| (12:38) |
comparative statics with constraints |
|
| b. Comparative Statics of Optimal Values: The Envelope Theorem (Calculus) (8:56) |
| (0:00) |
comparative statics of optimal values |
| (3:43) |
how does the optimal value respond to a change in a parameter? |
| (5:05) |
economic application |
|
| c. Comparative Statics of a Market Equilibrium (11:05) |
| (0:00) |
review of comparative statics |
| (1:10) |
comparative statics of an income or wage change (graphical illustration) |
| (2:52) |
rate at which a price rise eliminates excess demand (numerical example) |
| (5:05) |
effect of an income rise on equilibrium price (graphical illustration) |
| (7:09) |
effect of an income rise (algebraic derivation) |
| (8:00) |
effect of an income rise (derivatives) |
|